In the meantime I'm trying to get myself educated as much as possible in all the various aspect their is to real estate from picking a property, analyzing the profitability of the building, obtaining financing, renovating, general property management.

@Blake NormanHi BlakeHave you analyzed the property to see if it makes economic sense.  

Finally, BP has various tools available to help you analyze your deals (rental, flips, wholesale, etc), feel free to use them: https://www.biggerpockets.com/investment-calculators Please let me know if I can help, and best of luck!

Because investing is now popular / trendy, and this property in particular will have higher demand, I'm willing to bet that it goes for well above list price.I applaud your thinking and analysis though. 

Then post the core numbers on the forum for us to analyze along with you.

That value is notoriously difficult to determine, and you won't realize it until you sell.I'd encourage you to think of the property's value, and your equity in the property as the "icing on the cake" while analyzing rental properties, and to underwrite your investments to the "Cash on Cash ROI" metric.

I am currently analyzing a burn out property for potential complete rehab.  

When you analyze seller financing options are you basing the interest rate on a 30 yr note?

Revitalization can put prime real estate back into productive use, because the area is located in strategic places near a waterfront, railroad and transportation routes up East and to the airport and surrounding popular city areas such as NYC and DC.


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